Fitch acts on Costa Rican, Panamanian financials

Fitch Ratings took action on Costa Rican and Panamanian financial institutions following its revision of Costa Rica's sovereign outlook to stable from negative.

The agency revised the outlook on Banco Nacional de Costa Rica's (BNCR) and Banco de Costa Rica’s (BCR) foreign currency and local currency long-term issuer default ratings to stable from negative.

The long-term foreign currency and local currency issuer default ratings were affirmed at B. The short-term foreign currency and local currency issuer default ratings were also affirmed at B, and BNCR's government support rating was affirmed at b.

BNCR's senior unsecured debt long-term rating and recovery rating were affirmed at B and RR4, respectively.

Fitch revised the outlooks on Banco Popular y de Desarrollo Comunal’s (BPDC) long-term foreign currency and local currency issuer default ratings to stable from negative and affirmed them at B, and short-term foreign currency and local currency issuer default ratings were also affirmed at B.

Fitch revised the outlooks on Banco BAC San Jose, SA's (BAC San Jose) and Banco Davivienda (Costa Rica), SA's (Davivienda CR) foreign currency and local currency long-term issuer default ratings to stable from negative.

Fitch affirmed these banks' foreign currency and local currency long-term issuer default ratings at B+ and BB-, respectively.

Fitch revised the outlook on Banco Internacional de Costa Rica, SA's (Bicsa) long-term issuer default rating and long-term national scale rating to stable from negative.

Fitch affirmed Bicsa's long-term issuer default rating of BB- and viability rating of bb-, as well as its long-term national rating of A-(pan). The bank's short-term issuer default rating, national scale short-term rating and national scale debt issue ratings were also affirmed.

Fitch affirmed the long-term and short-term issuer default ratings of Inversiones CrediQ Business SA (ICQB) at B. The outlook for the long-term rating is negative.

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